Business Context and Reporting Period
This Form 8-K Current Report was filed by Tempest Therapeutics, Inc. on May 23, 2026. The filing addresses a corporate governance event involving the departure of a member of the Board of Directors.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on personnel changes and does not contain financial performance data.
Material Changes
On May 23, 2026, Ms. Simantov resigned from the Board of Directors, effective immediately. The Company stated there was no disagreement regarding operations, policies, or practices. A Separation Agreement was executed, under which Ms. Simantov waived all accrued and unpaid retainer fees. Her outstanding stock option awards and share ownership remain unaffected, and her indemnification rights will remain in force for six years post-separation.
Guidance, Outlook, and Risks
The filing contains no guidance, outlook, or management commentary regarding future financial performance. No specific risks or contingencies were disclosed beyond the standard transition of board membership. The full text of the Separation Agreement is expected to be filed as an exhibit to the Quarterly Report on Form 10-Q for the quarter ended June 30, 2026.
Investor Verification Checklist
- Verify the impact of the board departure on the Company's strategic direction and governance stability.
- Review the upcoming Form 10-Q for the quarter ended June 30, 2026, to examine the full Separation Agreement.
- Confirm the status of Ms. Simantov's outstanding stock option awards and any potential vesting implications.
- Monitor for any subsequent filings regarding the appointment of a new director to fill the vacancy.